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Direxion Daily Pharmaceutical & Medical Bull 3X Shares
Success is not final; failure is not fatal: it is the courage to continue that counts.
- Winston Churchill
Not all companies are scared of a drug losing patent protection. Generics are drugs identical in chemical composition to the original medicines, and hence, rely heavily on the expiration of patents to drive profits.
The share of generics in the pharmaceutical market has increased between 2006 and 2016, from 52% to 70% in value and from 16% to 23% in volume. Moreover, the FDA approved a record number of generics in 2018.